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Biden’s Hopes for GOP Backing on Next Economic Plan Shrinking

  • McConnell shuts door to tax hikes to pay for infrastructure
  • Some Democrats are also skeptical of president’s tax plans
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Biden’s Next Economic Plan Losing Hope for GOP Support (Source: Bloomberg)

President Joe Biden’s next major economic package will almost certainly have to rely once again on a Democrat-only approach after Senate Minority Leader Mitch McConnell shut the door Tuesday on Republican support for tax hikes to pay for it.

While West Virginia Democrat Joe Manchin has insisted Democrats at least try to work with Republicans on an infrastructure package -- and Biden also continues to hold out hope -- there’s little expectation now that such a bipartisan path exists for anything close to the scale the White House wants, and certainly not for the taxes on the wealthy and corporations they envision will pay for it.